NEW YORK ( TheStreet) -- With oil prices once again climbing, small-cap oil stocks were going through the roof Friday.
Topping the winners list was Lucas Energy (LEI - Get Report), which was soaring 34% to $4.24. Volumes touched 14 million in mid-day trading. Average volumes in the last three months have been around 800,000.
This stock has climbed nearly 60% over the past week not including Friday's move. Earlier in the week, the oil company reported the completion of a Hilcorp Energy-operated Eagle Ford horizontal well. The well is expected to be put on production in a few weeks and Lucas expects it to meet or exceed expectations of 500 barrels of oil per day. Earlier, in February the company reported that the well had tested 350 BOPD of light sweet crude.
Shares of Royale Energy (ROYL - Get Report) were rebounding after falling sharply on Thursday. The stock was up 7.6% to $7.59. Action has been particularly volatile in this $77 million market cap stock. Shares are up 40% this week, despite a 10% drop Thursday.Samson Oil & Gas (SSN - Get Report) has also been moving up sharply on higher-than-average volumes, up 7.6% on Friday to $3.96. The gainers Friday also included more lesser-known names such as Tengasco Energy (TGC - Get Report) and Ram Energy Resources (RAME), which were gaining 27% to $1.22 and 20% to $2.26 respectively. Outside of oil sector, shares of Spreadtrum Communications (SPRD) touched an all-time high Friday after the semiconductor company reported better-than-expected fourth quarter results and forecast first-quarter-revenue above estimates. The stock was up 6% at $22.92. Radioshack (RSH - Get Report) was another notable gainer. On Thursday, Anthony Scaramucci of Skybridge Capital told CNBC the stock sell off on concerns of declining sales was overdone and that it could go up to $22 on a standalone basis. --Written by Shanthi Bharatwaj in New York
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